Prudential PLC Lowers Position in Kellanova $K

Prudential PLC trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 94.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,201 shares of the company's stock after selling 75,822 shares during the period. Prudential PLC's holdings in Kellanova were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Other large investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC purchased a new stake in shares of Kellanova in the 1st quarter worth approximately $25,000. Trust Co. of Toledo NA OH purchased a new stake in Kellanova during the second quarter worth $45,000. Dagco Inc. purchased a new stake in Kellanova during the first quarter worth $49,000. Capital Advisors Ltd. LLC boosted its position in Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company's stock valued at $57,000 after acquiring an additional 177 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Kellanova in the 1st quarter valued at $62,000. Institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Kellanova Trading Down 0.0%

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Shares of NYSE:K opened at $83.45 on Tuesday. The business's 50-day moving average is $82.07 and its 200 day moving average is $80.93. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.47. The firm has a market capitalization of $29.03 billion, a P/E ratio of 21.90, a P/E/G ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company earned $0.91 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. On average, research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.58 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova's dividend payout ratio (DPR) is 63.74%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on K. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective for the company. Weiss Ratings downgraded shares of Kellanova from a "buy (b-)" rating to a "hold (c+)" rating in a report on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of Kellanova from a "sell" rating to a "hold" rating in a report on Saturday, November 1st. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $83.50.

Get Our Latest Stock Analysis on Kellanova

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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